Zacks Investment Research upgraded shares of Digi International Inc. (NASDAQ:DGII) from a hold rating to a buy rating in a research note issued to investors on Tuesday, August 1st. Zacks Investment Research currently has $12.00 price target on the technology company’s stock.
According to Zacks, “Digi International Inc. is a worldwide provider of communications hardware and software delivering seamless connectivity solutions for peripheral server-based remote access and local area networking markets. The Company operates exclusively in a single business segment and sells its products through a global network of distributors, systems integrators, value-added resellers and original equipment manufacturers. They also sell direct to select accounts and the government. “
A number of other equities analysts also recently weighed in on DGII. Benchmark Co. started coverage on shares of Digi International in a research note on Tuesday, April 25th. They set a buy rating and a $16.00 target price for the company. Sidoti raised shares of Digi International from a neutral rating to a buy rating in a research note on Tuesday, May 23rd. TheStreet downgraded shares of Digi International from a b- rating to a c+ rating in a research note on Tuesday, May 30th. Canaccord Genuity reaffirmed a buy rating and issued a $15.00 price target on shares of Digi International in a research note on Friday, July 28th. Finally, BidaskClub downgraded shares of Digi International from a sell rating to a strong sell rating in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Digi International presently has an average rating of Buy and a consensus price target of $14.50.
Digi International (NASDAQ:DGII) opened at 9.05 on Tuesday. The company has a market cap of $240.18 million, a P/E ratio of 27.51 and a beta of 1.45. Digi International has a 12-month low of $8.95 and a 12-month high of $14.15. The firm’s 50-day moving average price is $9.90 and its 200-day moving average price is $11.14.
Digi International (NASDAQ:DGII) last announced its earnings results on Thursday, July 27th. The technology company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Digi International had a net margin of 4.74% and a return on equity of 3.17%. The business had revenue of $45.70 million during the quarter, compared to the consensus estimate of $45.67 million. During the same quarter last year, the firm earned $0.16 earnings per share. Digi International’s quarterly revenue was down 12.3% on a year-over-year basis. Analysts expect that Digi International will post $0.27 EPS for the current year.
Several large investors have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in Digi International by 12.2% in the second quarter. Ameriprise Financial Inc. now owns 599,573 shares of the technology company’s stock valued at $6,086,000 after buying an additional 65,430 shares during the last quarter. Geneva Advisors LLC acquired a new stake in Digi International during the first quarter valued at approximately $545,000. Gamco Investors INC. ET AL increased its stake in Digi International by 72.2% in the second quarter. Gamco Investors INC. ET AL now owns 76,440 shares of the technology company’s stock valued at $776,000 after buying an additional 32,050 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Digi International by 37.1% in the second quarter. Wedge Capital Management L L P NC now owns 102,366 shares of the technology company’s stock valued at $1,039,000 after buying an additional 27,700 shares during the last quarter. Finally, State Street Corp increased its stake in Digi International by 3.4% in the fourth quarter. State Street Corp now owns 710,559 shares of the technology company’s stock valued at $9,769,000 after buying an additional 23,146 shares during the last quarter. 76.85% of the stock is owned by institutional investors.
About Digi International
Digi International Inc is a provider of mission and business-critical machine-to-machine (M2M) and Internet-of-Things (IoT) connectivity products and services. The Company creates connected products and deploys and manages critical communications infrastructures in a range of environments. It offers four categories of hardware products: cellular routers and gateways, radio frequency (RF), embedded and network products.
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